When you are one of the best and most original shows on television, its hard to maintain the same high levels. AHS: Freakshow is the fourth season in the franchise and, while it does not have the same fear factor as Asylum or even Murder House (seasons 2 and 1, respectively), it is still a far better and more original drama than most of what passes for entertainment television. The core cast from previous seasons returns, along with the addition of Neil Patrick Harris and Michael Chikles.
What makes the season very worthwhile, even if the plot is not nearly as fearsome as previous installments, is the continuity that it gives previous seasons. No spoilers but we see some old friends pop up in the show, which ties things together very nicely.